FSCA Investigates The Grand Trading and Associated Individuals Over CFD Platform Complaints

South Africa's Financial Sector Conduct Authority (FSCA) has launched an investigation into The Grand Trading (Pty) Ltd and three associated individuals following multiple complaints related to its CFD trading platform.

The investigation covers authorised financial services provider The Grand Trading (FSP No. 53871), its sole key individual Simon Durdey, director Christel Larissa Pretorius, and sole shareholder Boris Atanasov Kodzhov.

According to the FSCA, The Grand Trading provides intermediary services linked to a platform offering contracts for difference (CFD) trading. The regulator said the volume and seriousness of complaints received from clients prompted it to initiate a full investigation.

The inquiry will examine whether the investigated parties breached financial sector legislation, including regulations issued under South Africa's Financial Markets Act. The FSCA noted that although The Grand Trading is an authorised financial services provider, it is not licensed as an over-the-counter derivative provider.

The regulator emphasised that the investigation remains ongoing and that no findings have been made at this stage. It added that the announcement should not be interpreted as evidence that the parties have contravened any financial sector laws and said it will provide further updates once the investigation has concluded.